NZD/USD still strongly bearish

NZD/USD still strongly bearish

NZD/USD is recovering from the 0.6816 low and looks to test the 200 SMA around the offer area of 50% (0.7008). If the pair manages to break above it, further gains could happen on the way to test the 0.7200 psychological level. However, we expect that Kiwi finds dynamic resistance around the moving average and it can reach the -23.6% Fibo level of 0.6725.

RSI indicator is moving in the positive territory.

NZDUSDmH4.png

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